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V O L . X X I X N O. V I I A P R I L 3 , 2 0 2 3 20 B A N K I N G / F I N A N C E / I N S U R A N C E over the last 10 years," said Cross. "We've been doing our part." Consolidation is largely driven by aging demographics, he said. "A lot of aging business owners might not have somebody coming in behind them to take over the busi- ness," Cross said. "So the next step in their journey is to sell the business." Over the last couple of years, most acquisitions have been relatively small shops of two to four people. Talent acquisition ose acquiring ways means more hiring at Cross. Over the last few years, the com- pany has been developing internship programs and programs that bring in potential employees who might not have worked in the industry in the past. Like many industries, insurance is experiencing a labor crunch. "Talent acquisition is a big part of what we do," he said. e goal? To find people who bring traits that make them good team members — then teach them how to be insurance agents. "We're looking at ways to get the word out," he said. e internship program aims to introduce students to all aspects of the business. "Traditional internships in the industry would sit the student at a desk and have them do the filing and basic tasks all summer," Cross said. "We've looked to expose them to as many parts of the business as we can over the summer — everything from selling insurance to serving clients to meeting insurance carriers and taking them on job site visits." New CEO, new office Elsewhere in Maine, MMG Insurance in Presque Isle appointed Matthew McHatten to succeed Larry Shaw as president and CEO. Shaw, who retired at the end of 2022 after serving 28 years in the lead roles, is serving as a director on MMG's board of directors. MMG is a regional property and casualty insurance company with operations in Maine, New Hampshire, Vermont, Pennsylvania and Virginia. Founded in 1897, MMG writes in excess of $246 million in premiums in partnership with more than 220 Independent agencies across more than 580 locations. Last fall, Deanna Lynn, who began her career with State Farm Insurance in 1989, opened a new State Farm agency in Lewiston, with a goal of building and supporting the community by protecting vulnerable people with life and renter's insur- ance. State Farm and its affiliates are the largest providers of auto and home insurance in the U.S., with 53,400 employees serving over 87 mil- lion policies and accounts and revenue of $7.9 billion as of 2019. In another sign of industry con- solidation, Clark Insurance, a 91-year- old insurance agency headquartered in Portland and one of Maine's largest insurance agencies, said last summer that it was acquired by New York-based Marsh McLennan Agency LLC for an undisclosed price. According to a news release at the time, all 135 employees of Clark would be joining the new parent, a subsidiary of insurance and risk management conglomerate Marsh & McLennan Cos. Inc. (NYSE: MMC). Marsh McLennan Agency operates 160 offices across North America and employs about 9,000 people. Efficiency Maine's Commercial Property Assessed Clean Energy (C-PACE) program allows businesses to finance building retrofits, gut rehabilitations and new construction with no upfront costs. C-PACE financing allows commercial property owners to finance energy improvements on their buildings and repay the investment over a longer period of time. The borrowed capital is secured by a property tax assessment with an associated lien on the property. For details on participation and eligibility, visit efficiencymaine.com/c-pace/ or email C-PACE@efficiencymaine.com. Finance Your Business's Energy Upgrades With C-PACE » C O N T I N U E D F RO M P R E V I O U S PA G E F O C U S P H O T O / C O U R T E S Y O F M M G I N S U R A N C E Matthew McHatten served as executive vice president, COO, secretary and clerk at MMG Insurance before being named president and CEO.

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